KEENE, N.H. – (MyKeeneNow) Keene’s city council has finalized the budget for the 2024-25 fiscal year, starting July 1, by unanimously approving $73.5 million along with approximately $12 million in bonds for various projects, including the lower Winchester Street initiative.

The new budget is $5.6 million, or 8.2 percent, higher than last year’s. It includes the general fund, the primary account for the city’s main functions and departments, along with all other anticipated operating expenses.

The general fund is set at $52,419,200, an increase of $4.7 million, or 9.8 percent, from the current $47,736,757.

Keene expects to raise $29,714,294 in new tax revenue for the next fiscal year.

This will lead to a 90-cent increase in the tax rate, raising it from $12.55.

At Thursday’s meeting, the proposed budget was initially $73,388,489, but councilors approved amendments to correct errors. This change reduced the general fund by $9,000 but increased allocations for water and sewer accounts, which are funded by users.

The budget’s approval concluded a months-long process at City Hall, including several meetings of the council’s Finance, Organization, and Personnel Committee, and a public hearing before the final vote.